i usually full-equip a tank, then a second one with the leftover, and for the rest of the party, nothing special (amulets/rings +1 and similar).
I think this is the best armor class you can get in the game:
SPOILER
-
-
-
-
-
Base (with 18+ dexterity): 6
Full plate mail (AC 1): -3
Ring +2: -5
Claw of Kazgaroth: -6
Defender: -8
Cloak of balduran: -9
Helm of balduran or helm of glory: -10
Shield +2: -13
I would consider having this armor pretty practical
, though i agree that 2 tanks with -8 or so each is very fine too
------------------
"Iīve been captured... and I donīt care" -Ertai, Captive of the Blinding Angel